Sunrun Target of Unusually Large Options Trading (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) was the target of unusually large options trading activity on Wednesday. Traders purchased 78,935 call options on the stock. This is an increase of 184% compared to the typical daily volume of 27,762 call options.

Insider Buying and Selling at Sunrun

In other news, CEO Mary Powell sold 23,985 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $13.19, for a total transaction of $316,362.15. Following the sale, the chief executive officer directly owned 1,111,535 shares in the company, valued at $14,661,146.65. This trade represents a 2.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Danny Abajian sold 16,495 shares of Sunrun stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $13.19, for a total value of $217,569.05. Following the completion of the transaction, the chief financial officer owned 420,318 shares of the company’s stock, valued at approximately $5,543,994.42. This represents a 3.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 173,045 shares of company stock worth $2,138,835. 3.55% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RUN. Contour Asset Management LLC acquired a new stake in Sunrun during the fourth quarter worth about $98,010,000. California State Teachers Retirement System boosted its holdings in Sunrun by 1,275.2% in the 2nd quarter. California State Teachers Retirement System now owns 3,674,041 shares of the energy company’s stock valued at $49,159,000 after purchasing an additional 3,406,879 shares during the last quarter. Norges Bank purchased a new stake in shares of Sunrun in the 4th quarter valued at approximately $62,169,000. Voloridge Investment Management LLC acquired a new stake in shares of Sunrun during the 3rd quarter worth approximately $40,193,000. Finally, Bank of America Corp DE purchased a new stake in shares of Sunrun during the 2nd quarter valued at approximately $29,953,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Sunrun Price Performance

RUN traded up $0.36 during trading on Wednesday, reaching $8.73. The company’s stock had a trading volume of 2,783,570 shares, compared to its average volume of 9,472,172. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 5.88 and a beta of 2.36. The firm has a fifty day simple moving average of $10.89 and a two-hundred day simple moving average of $12.89. Sunrun has a 1 year low of $8.22 and a 1 year high of $22.44. The company has a quick ratio of 1.00, a current ratio of 1.42 and a debt-to-equity ratio of 3.34.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.19. Sunrun had a return on equity of 9.59% and a net margin of 11.59%.The business had revenue of $869.99 million during the quarter, compared to analyst estimates of $746.87 million. During the same period in the prior year, the business earned $1.07 earnings per share. The business’s revenue was up 52.8% compared to the same quarter last year. As a group, analysts anticipate that Sunrun will post 1.18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on RUN shares. Royal Bank Of Canada dropped their price target on shares of Sunrun from $18.00 to $14.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Citigroup reduced their price objective on shares of Sunrun from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Wall Street Zen raised shares of Sunrun from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $17.00 target price on shares of Sunrun in a research note on Friday, May 8th. Finally, Susquehanna reduced their price target on shares of Sunrun from $18.00 to $15.00 and set a “positive” rating for the company in a research report on Friday, August 7th. Twelve equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sunrun presently has a consensus rating of “Hold” and a consensus price target of $16.81.

Sunrun Company Profile

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.